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USDC, a stablecoin on the Ethereum blockchain surpassed the rival Tether (USDT).
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[QUOTE="Mika, post: 231639, member: 29399"] I just checked the coin market cap and I will share the recent data regarding these two stable coins, USDC and USDT. At the moment of typing this, USDT is the third crypto coin by market cap, it has a market cap of $81 billion, whereas USDC is in the fifth position with a market cap of 52.52 billion. You can make a comparison between these two stable coins in terms of market value. USDT is on Ethereum Blockchain and is backed by US dollars. It is also the first stable coin. Originally USDC was available on Ethereum but now it has expanded to other blockchain platforms like Solana, Stellar, and Algorand. USDC is backed by USD denominated assets in various US-regulated financial institutions. USDC was jointly created by Coinbase and Circle. The primary purpose of creating a stable coin was "to facilitate seamless pass transactions, improved arbitrage, and value exchange." Stable coins tri to minimize the risk created by the fluctuating crypto market. USDT and USDC are Centralised stable coins, (DAI is a decentralized stable coin). The centralized stable coins make money through lending and investing just like the traditional banks. If you are investing in crypto you can use stable coins to minimize the financial risk. [/QUOTE]
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USDC, a stablecoin on the Ethereum blockchain surpassed the rival Tether (USDT).
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